Economy, Domestic Economy

Iran, Czech Republic Sign Trade MoU

Iran, Czech Republic Sign Trade MoUIran, Czech Republic Sign Trade MoU

High-ranking officials and economic players of Iran and the Czech Republic met as part of their joint economic commission in Prague on Friday, during which a memorandum of understanding for cooperation was signed.

The MoU covered the fields of petrochemical production and the manufacture of buses, subway and wagons, electric and diesel locomotives, small airplanes and helicopters, IRNA reported.

On the sidelines of the event, Iranian Economy Minister Ali Tayyebnia met with the chairman of Chamber of Deputies of the Czech Parliament and the two sides expressed their willingness to further expand cooperation in auto industry and railroad construction.

Iran-Czech Republic bilateral trade in 2015 amounted to $52 million, registering a 50% increase compared with the year before.

During the first half of the current Iranian year, trade between the two countries showed a 10% rise compared with the corresponding period of last year to stand at $27.1 million.

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